Serious Fraud Office

Emily Thornberry: To ask the Attorney-General how much the Serious Fraud Office has spent to date on its first investigation into the Weavering hedge fund collapse.

Dominic Grieve: The total external expenditure relating to the initial Serious Fraud Office (SFO) investigation was £29,304,000. SFO staff working on the initial investigation were also engaged in other work, so it is not possible to accurately quantify the cost of permanent staff time relating to the investigation.
	Weavering Capital (UK) Ltd went into administration in March 2009. The company was responsible for managing the Weavering Macro Fixed Income Fund. The SFO ended its initial investigation into the collapse of the Weavering Macro Fixed Income Fund in September 2011. However, following a review of the High Court civil judgment by Mrs Justice Proudman on the 31 May 2012, the SFO's new Director reopened the criminal investigation in July 2012.